DEBT (Tables)

12 Months Ended

Mar. 31, 2016

Debt as of March 31, 2016 and 2015 consisted of the following (in thousands):



	March 31,
	2016			2015
6 ¼% Senior Notes due 2022	$	401,535		$	401,535
Term Loan	335,665			222,179
Term Loan Credit Facility	200,000			—
Revolving Credit Facility	144,000			83,800
Airnorth debt	19,652			23,119
Eastern Airways debt	15,643			19,680
Other debt	24,394			—
3% Convertible Senior Notes due 2038, including zero and $0.9 million of unamortized discount, respectively	—			114,109
Total debt	1,140,889			864,422
Less short-term borrowings and current maturities of long-term debt	(62,716		)	(18,730		)
Total long-term debt	$	1,078,173		$	845,692

Convertible debt

The balances of the debt and equity components of the 3% Convertible Senior Notes as of each period presented are as follows (in thousands):



	March 31, 2016		March 31, 2015
Equity component – net carrying value	$	14,905	$	14,905
Debt component:
Face amount due at maturity	$	—	$	115,000
Unamortized discount	—		(891		)
Debt component – net carrying value	$	—	$	114,109

Interest expense related to our 3% Convertible Senior Notes for fiscal years 2016, 2015 and 2014 was as follows (in thousands):



	Fiscal Year Ended March 31,
	2016		2015		2014
Contractual coupon interest	$	725	$	3,450	$	3,450
Amortization of debt discount	891		4,205		3,708
Total interest expense	$	1,616	$	7,655	$	7,158

Schedule of maturities of long-term debt

Aggregate annual maturities (which excludes unamortized discount of $0.3 million) for all debt for the next five fiscal years and thereafter are as follows (in thousands):



Fiscal year ending March 31
2017	$	62,716
2018	243,145
2019	49,298
2020	376,211
2021	2,537
Thereafter	407,316
	$	1,141,223